“Fulfilling the request temporarily froze Lehman's computerized trading systems. It nearly left the firm with insufficient capital to fund its trading and other operations.
[…]
Inside Lehman, there was growing panic. So many customers called to withdraw money that it couldn't properly process the requests. The firm's cash-management system — which each day is supposed to sweep up cash from offices such as London and redistribute it the next day — couldn't handle the surge. Lehman's New York arm couldn't properly get money to London accounts, which left Lehman's main European arm, based in London, essentially broke by Monday. Some $5 billion that was supposed to get to Lehman's London operations or its counterparties didn't arrive by Monday, estimates PricewaterhouseCoopers LLP, which was hired to help sort out the mess.
The Two Faces of Lehman’s Fall.
Search for the title of the link to get full text:)
Naja, wenigstens spannende Geschichten werden uns bleiben. Man hoert sie quasi rasseln und rattern die Transaktionen. Und wie ausgefuchst da wohl Bestände aufgelöst wurden. Wirklich interessant.
Wenn ich in zwei Monaten noch lachen kann, dann erzähle ich die Geschichte: Wie ich 1996 in die Sparkasse Lingen (Ems) ging um Yahoo Aktien zu kaufen…